Listings

Riverbend Station

205 Stewart Road
Mount Vernon, WA 98273

Listing information

Under Contract
Price $6,000,000
CAP Rate 6.10%
Year Built 1985
Price Per SF $246
Location Mount Vernon, WA

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Riverbend Station is a 24,684 square foot mixed-use investment located 1 hour north of Seattle in Mount Vernon, Washington. The center is currently 100% occupied with retail, medical office, and office tenants. 7 tenants lease approximately 91% of the space with 9% of the space made up of 13 executive offices. A majority of the tenants have been at the center since 2017 or earlier. An investor will benefit from contracted annual increases on a majority of the occupied space. Originally built in 1985 as an administrative center for the local school board, the building was remodeled in 2012 including a 30-year membrane roof, new parking surface, steel framing, metal siding, and fiber optic cable. Riverbend Station is situated at a signalized intersection adjacent to interstate 5 and across the street from a 220,000 square foot Super Walmart center. Neighboring businesses also include Skagit Regional Hospital and Lowe’s Home Improvement.

  • 100% LEASED INVESTMENT with long term tenants
  • DIVERSE MIX OF TENANTS include retail, medical office, and state government
  • INFLATION HEDGE with most leases including an annual CPI increase
  • HIGHLY VISIBLE LOCATION adjacent to Interstate 5
  • LOW AVERAGE RENTS compared to market comparable spaces